Brazil's Usiminas to borrow $150 mln in club deal loan

RIO DE JANEIRO Aug 28 (Reuters) - The board of Brazilian
steelmaker Usiminas approved borrowing up to $150
million with a group of banks led by Deutsche Bank
and ABN Amro Bank NV.

The decision to borrow the money from a club of banks was
unveiled in a securities filing. The company, which is formally
known as Usinas Siderurgicas de Minas Gerais SA, is struggling
in the face of weaker domestic steel demand as the Brazilian
economy languishes in recession.
(Reporting by Guillermo Parra-Bernal and Stephen Eisenhammer;
Editing by Chizu Nomiyama)